The second-quarter economic growth numbers beat expectations, coming in at 2.8 percent, fueling a mini-freak out as the numbers broke during Fox Business Network's Morning with Maria.
To say Bartiromo was nonplussed about the figures is an understatement.
All right, let's get the breaking news right now.
First read of second quarter GDP out.
Cheryl, start with the numbers.
Cheryl.
So it came in stronger than economists were thinking.
2.8% is the first read for the second quarter.
The estimate was 2%.
And remember, we only had a 1.4% read in Q1.
So better than expected.
Durable goods, though.
The month over month number, negative 6.6%.
Wow, that's a big number.
That's a big number because we were looking for a gain of .3%.
Now, if you strip out transports, it's up 0.5%, which is a little bit better than expected.
Core cap goods orders up 1%.
Street was only looking for a gain of 0.2%.
So that's better than expected.
Claims, about the same, guys. 235,000 on initial and 1.85 million on continuing, which is basically in line with what we're expecting, Maria.
All right, and 235,000 on jobless claims compared to the estimate, which was 237,000.
Jan, your reaction to these numbers?
I mean, on the jobless claims, I think that this is very close to consensus.
Probably not really much to discuss.
